May 25, 2011

Japan swings to trade deficit as exports dive

Japan's exports shrank sharply in April, compared to the year-earlier period as the effects of the March 11 earthquake weighed on trade, though the drop was less than expected. April exports fell 12.5% year-on-year, while imports rose 8.9%, the Ministry of Finance reported Wednesday. The trade balance swung to a deficit of 463.7 billion yen ($5.65 billion) from a ¥729.2 billion surplus in April 2010. The drop in exports was the worst since October 2009.

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